New franchise trilogy is in the pipeline, but will Arnold Schwarzenegger be back?

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Arnold Schwarzenegger, makes a thumbs-up sign as he poses in front of a robot to promote "Terminator 3" in Cannes, France, Saturday May 17, 2003.

"Terminator" fans, your favorite cyborg killer will be back!

Paramount has announced it will not only reboot the popular sci-fi franchise with a new movie scheduled to hit theaters on June 26, 2015, but the studio also revealed it's making a whole new stand-alone trilogy.

After several years of legal wrangling to iron out the rights, Paramount confirmed its joining forces with Megan Ellison's Annapurna Pictures and brother David Ellison's Skydance Productions to make the pictures.

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The siblings, of course, are the sons of billionaire Oracle CEO Larry Ellison who've been making a big mark in Hollywood helping to finance a slew of blockbusters and critically acclaimed films.

Skydance was a producer most recently on "World War Z" and "Mission: Impossible--Ghost Protocol" while Anapurna financed "Zero Dark Thirty" and "The Master."

The latter won the rights to James Cameron's epic apocalyptic series pitting humans against nasty robot killing machines at an auction two years ago and initially attached "Fast and Furious 6" helmer Justin Lin to direct with Arnold Schwarzenegger reprising his role as the T-800.

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However, the 65-year-old actor shortly thereafter put his participation on hold after revelations surfaced that he fathered a child out of wedlock.

The studio could not confirm whether Schwarzenegger will star in "Terminator 5," but it's more than likely he'll appear considering he's professed interest in reprising the role that made him a star.

Also unclear is whether Lin is still aboard; if the film will be a reboot of the 1984 original; or whether the trilogy will continue the storyline of the mediocre fourth installment, "Terminator: Salvation," which left off with Skynet having launched its war against humanity.

The script is being written by Laeta Kalogridi ("Shutter Island") and Patrick Lussier ("Drive Angry").

The four "Terminator" movies have grossed over more than $1 billion cumulatively at the worldwide box office since Ah-nuld first uttered those immortal words, "I'll Be Back."

Here's hoping Schwarzenegger's return's a good one as the new "Terminator" film will have plenty of tentpole competition. Also set for release in summer 2015 is the highly anticipated "Star Wars" sequel, "The Avengers 2," "Pirates of the Caribbean 5," "The Smurfs 3" and "Independence Day 2" among others.